Are you looking for a free property management software with premium functionalities? Cozy is not only a free property management software but it also assists you to ease up your rental management operations and improve overall efficiency.
Read on to get a good picture of this efficient software, as Skyose bring you a comprehensive review of Cozy property management software.
What is Cozy?
Cozy is a free property management suite, designed to provide property managers and landlords with every tool, needed to effectively manage their respective rental businesses. This property management software is built to enhance property managers’ work efficiency and at the same time, provide them surplus time (and money).
Basically, Cozy property management software hosts several relevant functions such as rental screening, expense tracking. online rental application, rent estimates, renters insurance and more. All these functions are streamlined in a single dynamic package, where every relevant rental and accounting tasks are automatically executed, with apt precision.
Cozy, as a free software, offers most of its inherent features to landlords and property managers at absolutely no cost. However, certain functions like tenant screening, rent estimates, renters insurance and more are offered at affordable prices.
In addition, Cozy is a cloud-based property management software; thus, it is supported on various digital platforms, ranging from desktop to mobile devices. This makes the platform easily accessible via any durable web browser, on virtually all smartphone devices and computer systems.
Furthermore, Cozy hosts comprehensive accounting tools, which work together to ensure you have absolute control over your budget. Accounting functions, which range from rent collection to maintenance expenses are all aptly managed.
Overall, this property management software is built to eliminate the stress property managers and landlords go through in their day-to-day business operations. Cozy provides landlords with every utility function, needed to optimize their rental performance, thereby ensuring their tenants are kept happy.
Benefits of Cozy Property Management Software
Free Rental Management Service
Cozy stands out among its contemporaries, solely because of this. Besides, this property management software’s functions are offered to you at no cost. This means you don’t need to pay a dime before you can enjoy the benefits of the software.
However, to make optimum use of the software, you will be required to pay a token, which is basically for cost-effective functions like rent estimates, tenant screening, card payments and so on. The charges for these functions are basically operating costs, incurred from third-parties or service partners. This is because, tasks like background checks require overhead payments, which are to be made to certain third-party firms.
In essence, Cozy offers you its platform for free, to facilitate the growth of your business. You are only required to pay for services involving third-parties, all of which are at affordable prices.
Automated Work Functions
With Cozy, all relevant work functions are automated, thereby providing you with seamless and efficient task executions. Tasks ranging from tenant screening to unit allocation to rent collection are all automatically executed; hence, you are able to carry out more tasks in lesser time, which invariably translates to more income.
Basically, Cozy offers you an integrated platform, where all relevant rental and property accounting functions are incorporated, to provide you with a dynamic hub, where every major task is carried out. This hub is fitted with an automation functionality which ensures that all your relevant work functions are seamlessly executed, automatically.
Typically, you don’t have to go door-to-door to receive rent payments. Cozy automatically notifies your tenants to pay their dues and also provides them with a reliable medium of making such payments, directly into your bank account. Also, you are able to easily assign maintenance duties to contractors, upon request by your tenants. All these require only a few clicks of buttons.
Essentially, Cozy assists you in running your business and also provides you with progress updates along the line. This affords you time to keep up with your family and friends, and at the same time, enables you to channel more time and resources into growing your business.
Cozy’s cloud-based deployment functionality makes it highly flexible and easily accessible. As such, you can make use of the software on your mobile phone or computer system, via any durable web browser. However, certain web browsers perform better than others. Browsers like Google Chrome, Internet Explorer and Firefox are the recommended web browsers for accessing Cozy’s interface, to enable you to to make the best use of the software.
Basically, you are provided all-round access to the platform’s interface, which means you can carry out all your property accounting, maintenance and rental management functions at any time, regardless of your location; be it on-the-go or in your office.
Overall, Cozy offers you the flexibility of using its platform, by ensuring you are not hindered by logistics or budget constraints in carrying out your rental business’ activities. This will, no doubt, result in improved efficiency and overall productivity, which in the long-run, translates to enhanced business growth.
Enhanced Tenant-Landlord Communication
Cozy offers your tenants several channels of communication, to facilitate your interaction with your tenants. This is aimed at fostering the interrelationship between you and your tenants (and prospective tenants), which is very vital to the improvement of tenants’ satisfaction.
Typically, this property management software hosts dedicated tenant portals, which provides your tenants direct access to you. From these portals, they are able to make maintenance requests, make their rent payments, make enquiries and so on. On the other end, you are able to approve (or reject) maintenance requests, receive rent payments and provide credible answers to all queries, all via the software’s platform.
Furthermore, this property management software affords you the opportunity of connecting and engaging your prospective tenants. Your listing site attracts leads and allows prospects to interact with you, before submitting their rental applications. This will, no doubt, facilitate the conversion of leads into renters.
In essence, Cozy ensures you maintain a strong bond with your tenants, thereby enabling you to provide them with some of the best available rental services and they, in turn, pay their dues, promptly. In the same vein, you are able to engage your prospective tenants, to hasten up their conversion into full tenants.
Accounting & Insurance
Like every property management software, Cozy helps you manage your finances. ranging from receiving payments (revenue) to making payments (operating expenses). In fact, most property accounting functions on Cozy are automated and executed with precision.
Furthermore, your property and tenants are insured against domestic accident, property damage and the likes. This is made possible by Cozy’s partnership with a foremost insurance provider, known as Assurant. With this, you are provided with a formidable cover (legally and financially) against unexpected/uncontrollable damages to your property and tenants.
Nevertheless, Cozy provides you with accounting tools, needed to keep your finances/budget under control and at the same, ensures you are insured against any event, which may result in any form of damage (physical) to your properties and tenants.
Training & Support
Cozy offers you adequate training and support on how to make the best use of the software, towards improving your service delivery to your tenants.
This property management software provides you with video tutorials and guidelines on how to adapt the software’s tools to your business needs. Also, there is a “Help Centre”, which is always on hand to assist you in every way possible.
Key Features of Cozy Property Management Software
Cozy hosts a customizable rental listing feature, which enables you to advertise your vacant units to prospective tenants and invite them to apply directly via the listing site.
This software’s customizable Listings allow you to modify the adverts of vacant rental units. As such, you are able to customize your listings to suit your rental terms and policies. With this, you can add numerous top quality photos, facilities, rental terms, lease policies and the likes. This provides prospective tenants with a clear picture of what is on offer; hence, they are better informed, before making the decision to apply for a vacancy.
Furthermore, you can share your Cozy’s listing link on social media such as Instagram, Twitter, Facebook and the likes, to further expose your business and vacant units to prospective tenants. Also, you are offered professional services from Cozy’s real estate’s partners such as Doorsteps.com and Realtor.com, to help you find tenants for your vacant property units.
Furthermore, Cozy’s Listings improve your chances of promptly filling up your vacant units, as the software ensures your properties are appropriately advertised to attract more applicants to your vacant units. In simpler terms, the Listings attract tenants for you, connect you with the tenants and facilitate their conversion into full renters.
This is one of the few paid features of Cozy property management software. It is designed to enable you to run background checks on your rental applicants, to determine their respective suitability, before allocating rental units to them. These checks are paid for and initiated by applicants, but they are overseen by you.
Typically, these background checks are run to reveal vital information on tenants, which may include credit history, rental history, employment details, income margin, criminal records (in some cases) and so on. With this, you are shown a clear picture of the suitability of each rental applicant. Hence, you are able to allocate your vacant units as appropriate.
Essentially, Tenant Screening provides you with necessary details on the past behaviour and the financial status of your applicants. This facilitates the allocation of property units to only suitable applicants and not those who might create problems for you in the long run.
This feature tracks all your property expenses, prepare your tax and also attach receipts, all within the comforts of your computer system or even on your mobile phone. This eliminates the clutteredness of keeping “book-sized” pack of receipts.
By effectively keeping track of your expenses, you are able to monitor your financial and business progress; hence, you can easily adjust your rental fees (if required), to fall in line with your expenses, so as to balance up the books.
Overall, the Expense Tracking functionality assists you in monitoring your finances, to ensure it is kept, strictly, in line with your budget. In the same vein, Cozy ensures that you are well equipped to conveniently fulfil your tax obligations, as and when due.
With Cozy, your tenants are provided with a direct line of communication to you, basically to make maintenance requests. Such requests are often accompanied by relevant information, which could include pictures and videos of the damage. In the same vein, you can easily approve tenant requests and update them on when (and how) the repairs would be made.
Furthermore, Cozy ensures you are able to streamline all maintenance requests on one platform and manage all of them from there. Also, you are able to monitor and keep records of all maintenance expenses, covering all your property units.
In essence, Cozy’s maintenance requests feature enables your tenants to communicate all their maintenance requests directly to you, via Cozy. On the other hand, you are able to easily mobilize a maintenance team or group of technicians to the site, to facilitate the repairs.
Cozy property management software hosts several other relevant features. These features include:
- Rent Estimates
- Online Rental Application
- Online Rent Collection
- Renters Insurance
Cozy is one of the free property management software available for all kinds of property management businesses.
Although Cozy offers its services to landlords free of charge; however, certain services are available at premium cost. Some of the premium services include:
Tenant Screening Reports: $24.99 (Individual) OR $39.99 (Bundle)
Card Payments: 2.75%
Renters Insurance: $20 per Month
Rent Estimates: $19.99
Express Payouts: $2.99 per Unit per Month
Intending users can request for a live 45-minute Cozy demo in order to evaluate the platform prior to onboarding.
Supported devices: Any web-enabled devices, Mac, Windows
Serviced Locations: Middle-East, Mexico, United Kingdom, Africa, Asia, United States, Canada, Europe, Australia, Brazil, Latin America, Germany, Japan
Pricing model: Free
Supported Language: English
Customer Types: Medium Business, Large Enterprises, Real estate professionals, Small Business
Popular integrations: Realtor.com, Doorsteps
Cozy property management software offers users the following after-sales support:
Email Support: email@example.com